The Heilbrunn Center and Pershing Square Capital Management partner together each year to present a value oriented stock pitch competition.  The Pershing Square Value Investing and Philanthropy Challenge, begun in 2008, is offered to MBA students to signal the commitment of both Columbia and Pershing Square to produce talented and knowledgeable graduates who are ready to take on leadership roles as value investors.  Finalists are selected from the class teams to present their ideas to senior value investors.  The winner is chosen from the entrants to receive a cash prize of $25,000 which will, in turn, be directed to the School.  The allocation of the prize is at the winner’s choosing, based on three or four areas of need identified by the School and discussed with Pershing Square.